Event Intelligence transforms the economics of risk

Real time fraud detection has up to now been subject to the laws of diminishing returns: the more fraud you detect (as a percentage of the total fraud), the higher the rate of false positives generated. The costs associated with false positives are significant, and lead to many businesses tolerating an ‘acceptable level' of fraud as the cost of doing business.

In many cases, because the best customers do more business, they are most likely to have transactions denied or referred for fraud screening processes compounding the problem.

SeeWhy changes these economics fundamentally with new Behavioral Profiling technology which has a dramatic impact on false positives, cutting them by up to 10x in many cases.

Real time fraud detection using Behavioral Profiling

SeeWhy detects more fraud, earlier, at a dramatically lower cost than traditional fraud detection technologies. Applied either as a complete anti-fraud system, or in conjunction with other fraud systems already in place, SeeWhy changes the economics of fraud fundamentally through:

• Huge reductions in false positives result in lower costs
• The best customers are least likely to be denied service or requested to verify transactions through false positives
• Customer confidence increases
• Fraud losses reduce through earlier detection
• An increase in the fraud detection rate at the same time as reducing to false positive rate

How it works

Behavioral profiling continuously tracks the unique behavior of millions of individual accounts, customers, products and devices in real time, so deviance from the expected behavior of a particular account at any given point in time is automatically detected in real time.

When benchmarked in comparison with traditional fraud rules and analytic systems, SeeWhy has demonstrated up to a 10x reduction in false positives, at the same time as increasing detection rates.

Behavioral profiling is also applied to known confirmed fraud, providing a real time and feedback loop where changing fraud patterns are automatically taken into accounts. This dynamic approach ensures that the system is constantly learning and adapting as fraudsters adapt their techniques and tactics. It also means that there are no ‘hard thresholds' which are easy for fraudsters to figure out.

Protection against flood attacks

In the online world, detection of fraudulent transactions has to be efficient (and real time) because many of these types of frauds can be automated leading to flood attacks.

Flood attacks are difficult to prepare for without self-learning, automated, real time defenses since manual screening processes cannot scale to deal with huge increases in fraudulent transactions.

SeeWhy offers automatic protection against flood attacks and can initiate automated real time traffic blocking through third party firewall and intrusion detection technologies when online robotic behavior is detected.

Fraud and compliance solutions

SeeWhy has specific expertise (and prepackaged template solutions in some cases) in the following areas:

• Online account takeover
• Device fingerprinting
• Card fraud
• Online payment fraud
• Insider fraud
• Investigation prioritization
• Reduction in false positives
• PCI compliance
• Brokerage trade monitoring compliance

Please contact us for further details about any of these areas at

Further Fraud & Compliance Resources:

RBS selects SeeWhy for Real time fraud detection service

Request a copy of the SeeWhy Behavioral Profiling in Fraud whitepaper by emailing us at (please note that only verified company email addresses will be accepted)